Pfizer (PFE) merits further research: the outlook on its pipeline was more positive than expected, but no price target or timeframe was given, so the comments alone don’t support a buy decision. Size any investment according to the strength and rarity of the opportunity, rather than confidence or the desire for a bigger gain.

Trade Position Sizing (Kelly Criterion)

• Shkreli said stronger trades may warrant more capital, while emphasizing that position size should reflect how rare and compelling the opportunity is.
• He cautioned against treating a trade that appears regularly as if it were a once-in-a-lifetime opportunity. Traders may be tempted to overcommit because they want to win, but forcing a trade can be counterproductive.

Takeaways

• Match position size to the quality and rarity of the setup rather than to confidence or the desire to make a large gain.
• Before committing substantial capital, consider whether a similar opportunity is likely to come along again soon. The discussion did not specify a particular sizing formula or trade.

Pfizer (PFE)

• Asked about Pfizer, Shkreli said he had looked at the company recently and that its pipeline was “not as bad as maybe I thought originally,” adding that it had “some juice.”
• This was a brief, generally positive assessment; no specific drugs, valuation, price target, or timeline were discussed.

Takeaways

• The comments suggest improved sentiment about Pfizer’s drug pipeline, but they do not provide enough detail to assess the company’s prospects or support a specific investment decision.
• Further evaluation would require examining the pipeline’s individual programs and their development risks, which were not discussed in the transcript.